Developers show lower confidence

 At 36.3, the Housing Developers Sentiment Index of Real Estate Information Centre, which surveyed 28 listed companies and 119 non-listed companies, was the lowest since the index was launched five quarters earlier.

 The Expectations Index was 40.2, down from 58.4, as developers expected the situation to worsen in the next six months.

 "The declines follow the global economic crisis and internal politics," REIC said in a statement. The developers' confidence dropped in terms of financial results, sales, investment, employment and new projects. They were positive only to the operating cost, which dropped in line with oil prices and construction material prices.